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Posted by A. B. Dada on March 6th, 2006
After 18 days of silence, I finally have returned from my run through Europe and Asia. I had expected to write on the go, but the lack of good Internet connection points limited me to only 2 accesses to my e-mail on the go.
I learned more on this trip than any other in my life — probably because the trip was very specific in showing me opportunities in other countries. I will be heading out again likely in a few months, and will be sharing my experiences with the entrepreneurs who read this site as well as those of you who dream of self-ownership.
The biggest opportunities I saw were in India — the land of outsourcing and low wages. The average person I spoke with made less than 5000 rupees a month — that is about USD$115 per month! This is a real job too — engineer, entry level lawyer, new doctor.
With very low wages, you’d think that there aren’t opportunities to make money, but I was surprised at the level of growing wealth within the middle class. India feels like an ancient country in every way, even the richest people don’t have the cleanest water or even air conditioning. Yet with each day, the new generation wants to be more Westernized, if only they knew how.
Over the next few months I will share my thoughts on the world and how you can take advantage of the new global economy. Today I just wanted to let you know that being a jetsetter is not as scary as it might have been in your parents’ day.
My trip through Europe and Asia was very cost effective — for around US$3000 I spent 18 days in two continents. $170 a day is a lot, of course, but I traveled very well and stayed in very high end hotels. I believe my trip could have paid for itself had I cut back on some of this higher quality service I’d desired.
If you’re young, saving US$2000 for a yearly trip to another continent should not be hard — we’re talking $40 per week. I can save this amount just in joy-ride gas and bottled water that I used to spend when I was younger.
I went to both continents with very little research — just get up and go. Most people I encountered spoke English (broken but useful), and not once did anyone attempt to rob me, threaten me or even rip me off. The markets I attended were very honest and open — they wanted me to return. It is not the world of the 1980s, everyone now has a cell phone it seems and they’re hungry for tales of the West.
If you’re under 25, now is the time to save and go. By the time you’re 30, other responsibilities might make it nearly impossible to take the 2+ weeks you’ll need to properly digest a given market. I found opportunities in Poland, Switzerland, India, Germany, and many more surrounding countries — without much work or investment. While the income from these businesses would not be very much, getting your foot in the door when an economy is growing is a great way to build a very successful business when the economy is booming.
Don’t be afraid of looking at different markets — even one in the country you’ve been born in. I’m from Chicagoland — high cost of living with high wages. I believe I could live a more comfortable life moving to a smaller market, and I keep that option open should life’s ups and downs give me reason to. Yet I also leave the door open to the rest of this huge world we live in, and my future likely will lead me to move on the opportunities I am sowing right now. Take advantage of your youth to see a bigger picture; even if you don’t take advantage of other markets, you may find yourself happier in the life you’re living today.
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